What this area covers: brokerage in the US
Brokerage is one of 8 parts of our “Licensing — MSB / VASP / EMI” practice. It covers the full cycle from initial scoping to operational launch, run by a single named partner from our US practice.
What it is in the US: FX / securities brokerage.
How we handle brokerage
The “Brokerage” project in the US is structured as a 4-stage process run by a single named partner.
Fintech, crypto, EMI, and payments licences across Canada, the UK, UAE, Estonia, and Singapore — application through to regulator onboarding.
The same desk that runs brokerage handles your banking, bookkeeping, compliance and — where needed — your wind-down.INNOVA · Operating model
Why the United States
The largest market, deep capital, a choice of state (Delaware, Wyoming, Florida), and a straightforward registration process. We use it for operating companies, reaching US investors, and structures built for venture funding.
A reliable regulatory environment
Banking ecosystem
Corporate tax 21% federal + state taxes
INNOVA represented on the ground
Why INNOVA
Operational differences that hold up on the 2nd, 5th and 10th project — not just at first impression.
One partner — the whole cycle
Registration, banking, tax, compliance and immigration stay under one accountable INNOVA partner from start to finish.
14 years of practice
Working since 2012 through several regulatory cycles — including FATCA/CRS, the tightening of banking, and the introduction of UAE CT.
Regulator-grade documentation
Every output document is ready for audit and investor scrutiny — whatever the size of the deal.
One cross-border operating plan
INNOVA coordinates the work end to end; vetted local specialists join where local execution is required, without handing the client off.
How the work is structured
A 4-stage process led by a single named partner — from the intro call to the operational hand-over.
Feasibility analysis
Jurisdiction selection and assessment of approval prospects
Document preparation
Application and supporting documents
Submission and review
The regulator's review process
Post-licence setup
Banking, operating model and monitoring
What we need from you · what you get from us
What we need from you to begin — and what you walk away with. We won't pester you with needless questions: we already have most of the answers.
- Activity scope + product matrixstructured
- Beneficial-owner packall UBOs
- Business plan10–30 pages
- Financial projections3 years
- Proof of capitalminimum thresholds
- Senior-management CVsfit & proper
- Licence issuedin name
- Regulator approval lettersissued
- Licence-conditions registertracked
- Ongoing-reporting calendarset up
- Bank onboarding initiatedlinked
Four ways to work together
We don't quote a fixed price without understanding your situation — cost depends on the complexity of your case. Start with an initial call, then we pick the right format.
Intro call
A 30-minute online consultation. We discuss your situation, define the project scope, and propose a structure and timeline.
Written analysis
A written consultation with a full review of the business — tax positioning, structure options, jurisdiction comparison, banking path. Turnaround: 5 business days.
Operating roadmap
For complex situations — multi-jurisdiction structures, regulated activity, founder relocation. A full plan with stages, dependencies, deliverables and timing.
Direct execution
You know what you need — we execute. No advisory mark-up and no discovery phase.
Fill in the questionnaire
Complete the online questionnaire: it creates your account on the portal, where your structure, renewal reminders and documents will live.
Fill in the questionnaire
4 steps · creates an INNOVA portal account · 24h review.
Once you submit the questionnaire we create a portal account. Inside: your live structure, a renewals calendar (annual returns, register updates, tax filings), a document vault (certificates, share register, bank letters), a partner chat and project status. A single place for your entire operational life.
From a client
A review from a client who went through a comparable project. Verified, the engagement is ongoing.
Frequently asked questions
The questions we're asked most often. If yours isn't here, an intro call is the fastest way to get an answer.
Most “Brokerage” projects in the United States run 4–9 months start to finish. The fastest stage is document filing; the longest is post-registration onboarding (banking, tax registration). A single named partner runs the project throughout.
From US$ 18,000 · depends on licence type. The lower bound is for clean, standard profiles; the upper bound is for complex ownership structures, multi-jurisdiction projects or regulated activity. A fixed quote follows a 30-minute scoping call.
In most cases, no. The entire process runs remotely under a notarised power of attorney. A handful of jurisdictions require an in-person visit (typically biometrics for a residence permit) — we plan those as efficiently as possible.
FinCEN MSB (Money Services Business) registration is a federal requirement for money transmission, currency exchange, check cashing, and cryptocurrency operations. It runs online through BSA E-Filing and takes 1–2 days. But it grants no right to operate in any given state. State money transmitter licenses (MTLs) are separate: 49 states plus DC, fees from $1,000 to $100,000+, surety bonds of $25,000–$1M+, and 6–18 months of processing per state.
A company transmitting money nationwide technically needs a license in each of the 49 states that require one, plus DC. Montana is the sole state with no money transmitter licensing requirement; every other, including Wyoming, requires one. The Nationwide Multistate Licensing System (NMLS) holds the applications, but each state approves separately, with its own fees and surety bonds. Fintech startups usually start with 5–10 states and expand. Total licensing costs across the country exceed $1M in fees and bond premiums.
New York's BitLicense (issued by the NYDFS) is required of any company that transmits, stores, buys, sells, or exchanges virtual currency with or on behalf of New York residents. It's one of the strictest crypto licenses in the world: a $5,000 application fee, capital requirements, cybersecurity mandates, and AML-program requirements. The process runs 12–24 months. You can't serve New York customers without it.
MSB (Canada) is a licence for fiat money services. VASP (EU and others) covers virtual assets. EMI (EU/UK) is an Electronic Money Institution — a broader status, regulated like a quasi-bank. The choice depends on your activity, jurisdiction and capital.
Yes — the licence application and the AML/KYC programme are developed in parallel. Filing an application without the programme leads to conditions or a refusal.
Brokerage in other countries
The same service — in every jurisdiction we run. One desk, one standard.
